Scott D. Cook Sells 73,655 Shares of Intuit Inc. (NASDAQ:INTU) Stock

Intuit Inc. (NASDAQ:INTU) insider Scott D. Cook sold 73,655 shares of Intuit stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $664.94, for a total transaction of $48,976,155.70. Following the sale, the insider now owns 6,301,286 shares of the company’s stock, valued at approximately $4,189,977,112.84. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Intuit Stock Up 1.0 %

Shares of Intuit stock opened at $643.39 on Friday. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.31. The company’s fifty day simple moving average is $644.08 and its two-hundred day simple moving average is $634.65. The company has a market cap of $180.10 billion, a P/E ratio of 62.47, a PEG ratio of 3.31 and a beta of 1.24. Intuit Inc. has a 12-month low of $557.29 and a 12-month high of $714.78.

Intuit (NASDAQ:INTU) last issued its quarterly earnings data on Thursday, November 21st. The software maker reported $2.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.36 by $0.14. Intuit had a net margin of 17.59% and a return on equity of 18.25%. The business had revenue of $3.28 billion for the quarter, compared to the consensus estimate of $3.14 billion. During the same period in the previous year, the firm earned $1.14 EPS. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. Research analysts anticipate that Intuit Inc. will post 14.07 EPS for the current year.

Intuit Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 17th. Stockholders of record on Thursday, January 9th will be issued a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a dividend yield of 0.65%. The ex-dividend date is Thursday, January 9th. Intuit’s dividend payout ratio (DPR) is presently 40.39%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. JPMorgan Chase & Co. lifted their price target on shares of Intuit from $600.00 to $640.00 and gave the stock a “neutral” rating in a research note on Friday, November 22nd. Jefferies Financial Group lifted their price target on shares of Intuit from $790.00 to $800.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Piper Sandler decreased their price target on shares of Intuit from $768.00 to $765.00 and set an “overweight” rating on the stock in a research note on Friday, November 22nd. Scotiabank assumed coverage on shares of Intuit in a research note on Monday, November 18th. They set a “sector perform” rating and a $700.00 price target on the stock. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $760.00 price target on shares of Intuit in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $737.44.

Institutional Trading of Intuit

A number of hedge funds have recently modified their holdings of INTU. LGT Financial Advisors LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $25,000. Fairway Wealth LLC bought a new stake in shares of Intuit during the 2nd quarter valued at $26,000. Northwest Investment Counselors LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $27,000. Denver PWM LLC bought a new stake in shares of Intuit during the 3rd quarter valued at $32,000. Finally, Dunhill Financial LLC boosted its stake in Intuit by 110.3% in the 3rd quarter. Dunhill Financial LLC now owns 61 shares of the software maker’s stock worth $38,000 after purchasing an additional 32 shares in the last quarter. Institutional investors own 83.66% of the company’s stock.

About Intuit

Intuit Inc provides financial management and compliance products and services for consumers, small businesses, self-employed, and accounting professionals in the United States, Canada, and internationally. The company operates in four segments: Small Business & Self-Employed, Consumer, Credit Karma, and ProTax.